London, 14 June 2022: Beringea today announces that Proven Legacy has provided a debt facility of £850,000 to CK International, a company based in Northern Ireland that provides waste compaction solutions. The new facility will enable able the continued development of the Company and further customer growth.
CK International design and manufacture a wide range of balers and compactors to provide waste compaction solutions for a range of customers.
The funding provided by ProVen Legacy will be used to expand the development of the Company and develop a growing pipeline of potential customers.
Andrew Webster, Investment Director at Beringea LLP, the Lending Adviser to ProVen Legacy, commented: “Having previously worked with companies in Northern Ireland we were delighted to be introduced to the team at CK International. It is clear that the team have a clear focus on the potential to develop waste compacting solutions for their customers.”
ProVen Legacy was set up by Beringea in 2017 to help investors mitigate inheritance tax using Business Property Relief, an incentive established by the UK government to encourage investment into trading businesses. Investors in ProVen Legacy will benefit from up to 100 percent inheritance tax relief on the value of their shares, provided that they have been held for at least two years at the time of death. Investments will be used to support growing companies across a range of industries as they enter the later stages of their scaling journeys, offering loans of up to £5 million.
